BTIG Research initiated coverage on shares of Real Brokerage (NASDAQ:REAX - Free Report) in a report issued on Wednesday, Marketbeat.com reports. The brokerage issued a buy rating and a $6.00 price target on the stock.
Real Brokerage Price Performance
REAX stock traded down $0.33 during mid-day trading on Wednesday, reaching $4.65. The company had a trading volume of 1,149,133 shares, compared to its average volume of 779,482. The company has a market capitalization of $919.56 million, a PE ratio of -25.83 and a beta of 0.95. The firm has a 50 day moving average of $5.30 and a 200 day moving average of $5.31. Real Brokerage has a 12 month low of $1.46 and a 12 month high of $6.75.
Real Brokerage (NASDAQ:REAX - Get Free Report) last issued its earnings results on Thursday, November 7th. The company reported ($0.01) earnings per share for the quarter, topping the consensus estimate of ($0.04) by $0.03. The business had revenue of $372.49 million during the quarter, compared to analysts' expectations of $334.61 million. Real Brokerage had a negative return on equity of 73.22% and a negative net margin of 2.91%. During the same period in the prior year, the business earned ($0.02) EPS. Analysts anticipate that Real Brokerage will post -0.1 EPS for the current year.
Hedge Funds Weigh In On Real Brokerage
Several institutional investors have recently bought and sold shares of the business. State Street Corp raised its position in shares of Real Brokerage by 48.0% in the 3rd quarter. State Street Corp now owns 1,364,358 shares of the company's stock worth $7,572,000 after acquiring an additional 442,612 shares in the last quarter. Geode Capital Management LLC grew its stake in Real Brokerage by 1.2% in the third quarter. Geode Capital Management LLC now owns 1,224,183 shares of the company's stock valued at $6,794,000 after purchasing an additional 14,045 shares during the last quarter. Harbor Capital Advisors Inc. grew its stake in Real Brokerage by 106.6% in the third quarter. Harbor Capital Advisors Inc. now owns 595,055 shares of the company's stock valued at $3,303,000 after purchasing an additional 307,016 shares during the last quarter. Charles Schwab Investment Management Inc. raised its holdings in Real Brokerage by 30.8% in the third quarter. Charles Schwab Investment Management Inc. now owns 294,284 shares of the company's stock worth $1,633,000 after purchasing an additional 69,343 shares in the last quarter. Finally, Bank of New York Mellon Corp bought a new stake in shares of Real Brokerage in the 2nd quarter valued at about $1,091,000. 53.28% of the stock is owned by hedge funds and other institutional investors.
About Real Brokerage
(
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The Real Brokerage Inc, together with its subsidiaries, operates as a real estate technology company in the United States and Canada. It operates in three segments: North American Brokerage, Real Title, and One Real Mortgage. It offers brokerage, title, and mortgage broker services. The company is based in Miami, Florida.
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